$9.5 Billion Deal Shakes Up Permian Basin
Concho Resources has agreed to acquire RSP Permian in an all-stock deal valued at $9.5 billion. The combined company will have the largest acreage position and be the most active driller in the Permian…
Energy
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Crude Oil Price Cuts Loss After Inventory Report
The U.S. commercial crude oil inventory rose by more than 1 million barrels last week, but stockpiles of gasoline and diesel fuel dropped.
Short Sellers Hike Bets in Major Oil Stocks
The March 15 short interest data have been compared with the previous figures, and short interest in most of these selected big oil stocks increased.
Short Interest in Solar, Alt Energy Stocks Heats Up
Short interest rose on solar stocks as share prices increases over the reporting period to March 15. Short interest in alt energy stocks was mixed.
US National Average Gasoline Price Springs Higher
U.S. gasoline pump prices rose by an average of 11 cents a gallon in the past week. Petroleum inventory levels have fallen by about 150 million barrels in the past 12 months.
Why the National Institute of Health New Budget Looks So Promising
According to a recent analyst report by Janney, the National Institute of Health budget that was approved last Friday could be a big boost for some select biopharma stocks.
China’s Oil Futures Market Opens for Business
In a move to gain more influence on the global oil market, China began trading a crude oil futures contract Monday morning that is traded in yuan, not dollars.
US Oil Rig Count Adds 4 as Crude Price Continues to Climb
The U.S. land rig count rose by five this week, according to the latest report from Baker Hughes. Of that total, four new rigs are looking for oil and one is seeking natural gas.
Natural Gas Demand to Stay High on Cold Weather Forecast
U.S. natural gas stockpiles fell last week by 86 billion cubic feet, the low end of the consensus expected range. Demand is expected to remain high into next week.
Tipped Workers Will Get to Keep Their Tips
The congressional budget bill that is on its way to the president includes a provision that nullifies an administration attempt to force tipped workers to pool tips and let the employer redistribute the money.
US Gulf of Mexico Oil Lease Sale Another Bust
A Wednesday lease sale covering 77 million acres of the U.S. Gulf of Mexico drew few bids and not much cash.
Crude Oil Price Rises on Surprise Inventory Drop
The U.S. crude oil inventory dropped unexpectedly last week and combined with tensions over supplies from the Middle East, crude prices have pushed higher Wednesday.
RBC Sees 4 Energy Stocks as Potential Takeover Candidates
While there is absolutely no guarantee that these energy companies will be acquired, they are outstanding stocks to own in aggressive growth portfolios on their own.
Middle East Tensions Push Oil Higher
Oil pushed higher on Tuesday amid tensions in the Middle East, which could weigh on global oil supplies. Not to mention, troubles in Venezuela seem to be contributing to rising oil prices as well.
Why Refiners May Be the Best Q2 Energy Play
These four top refiner stocks are rated Buy, one with a huge discount to the sum-of-the-parts value. All make good sense for investors looking to take advantage of the energy sector troubles.